V-Mart Retail Q3 profit surges to Rs 37 crore, to launch special collections

By

Maverick Martins

Published
Feb 15, 2018

V-Mart Retail Ltd net profit for the quarter ended December 2017 rose to Rs 37 crore (approx $5.7 million) as against the 29 crore (approx $4.6 million) in reported during the same period for the last financial year.
 

The company’s revenue from operations were up 13 percent to Rs 369 crore (approx $58 million) as compared to Rs 328 crore (approx $51.3 million) it reported during the last fiscal.
 
During the quarter, V Mart opened 10 new stores, with 4 additions in Uttar Pradesh, 2 in Jharkhand, 2 in Bihar, 1 in Uttarakhand and 1 in Odisha taking the total retail area under operations to 14 lakh sq ft.

The company continues to remain optimistic about the future and will be further expanding its retail network and product portfolio in the coming months. The company plans to launch special merchandise and clothing line for both men and women in the coming quarter.
 
Commenting on the outlook, Lalit Agarwal, CMD in a statement said, “The company is also launching special merchandise for summers at very reasonable prices. New and summer friendly fabrics are also being launched in t-shirts with attractive cool summer colours with major focus on 100% premium cotton fabrics.”
 
“The company will also be launching ‘liva" fabric in women ethnic wear for the first time and launching spring summer collection before Holi will also include comfortable cotton kurtis, tops with multi-coloured flaired skirts, plazuos, pants etc”, he added.
 
V-Mart is a hypermarket format retail chain with a strong presence in tier 2, 3 cities across the country. It offers clothing, accessories, and personal care products for men, women, and children.